Government has reiterated its commitment to support the beverage industry through appropriate policies.

According to a Deputy Minister of Trade and Industry, Michael Okyere Baafi, government is implementing initiatives to cushion small and medium enterprises as part of the industrialisation agenda.

However, these benefits will only apply to companies that sign up under government’s flagship programmes including One District One Factory (1D1F).

Speaking at the launch of this year’s Ghana Beverage Awards, Mr. Okyere Baafi said, “those under the 1D1F programme have certain incentives like a 5-year-tax-holiday. When a company is under this programme, it is exempted from the payment of import taxes. Those who also seek loans from our participating financial institutions (PFIs), government subsidises 10% of the interest to cushion those companies,” he said.

Global Alliance Media together with the Ministry of Tourism, Arts and Culture launched this year’s Ghana Beverage Awards.

Speaking on the sidelines, Deputy Minister for Tourism, Mark Okraku Mantey, emphasized the importance of the beverage industry to the tourism sector.

“The tourism sector cannot survive without the beverage industry. It is so because tourists – both local and international – would be at places and would like to quench their thirst or drink either a soft drink or an alcoholic beverage. Situations like these are the variables in the value chain of selling tourism hence the beverage industry cannot be sidelined,” he stated.

Ghana’s commercial beverage industry has become increasingly competitive in recent years and several small producers have entered the market, with growth driven by urbanisation, increased brand-awareness and a growing middle class.

The Ghana Beverage Awards is special ways of celebrating the industry alongside with its players. This year’s event is themed “Inspiring excellence in Ghana’s beverage industry.”

Applications for nominations are open till 7th February, 2022.